HomeMy WebLinkAboutDocumentation_Regular_Tab 02_09/10/2015 TEQUESTA PUBLIC SAFETY OFFICERS' PENSION TRUST FUND
Summary of Actions for Quarter ending 06/30/15
(presented August 31, 2015)
1. The regular Board meeting was held on August 3, 2015.
2. The Board administered the Oath to the new Village appointed trustee, Kyle Stone.
The Board reappointed trustee, John Terzakis to the 5` Trustee position.
3. The Board, along with the General Employee Pension Board, listened to
presentations from the short list presenters for a Custodian to replace Salem Trust.
The companies who presented were:
• Wilmington Trust Company
• First State Trust Company
• Fiduciary Trust Company
The Boards selected Fiduciary Trust and determined with input from the ViNage and
the Administrator to target the transition for mid-October.
4. Bogdahn (by Tyler Grumbles) reviewed the 06/30/15 quarte�ly �etums. At the end
of the quarter, the Plan's market value was $11,839,750 and the asset allocation
was Domestic Equity 49.9%, International Equity 15.2%, Fixed Income 28.6%,
Global Fixed Income 5.0%, and Cash Equivalent 1.3%. The returns for the quarter
were:
Quarter Returns:
Total Fund (Net) -0.33% versus the benchmark at -0.35%.
A. Total Equity .80% versus the benchmark at .30%,
1. Total Domestic Equity 0.71 % versus the benchmark at 0.14%
2. Total Int'I Equity 1.10% versus the benchmark at 0.72%
B. Total Fixed Income was -2.41 % versus the benchmark at -1.56%
1. Total Domestic Fixed Income -2.79% versus benchmark at 1.68%
2. Total Global Fixed Income -0.14% versus benchmark at -0.79%
Fiscal Year to Date
Total Fund (Net) 6.22% versus the benchmark at 4.15%.
A. Total Equity 9.94% versus the benchmark at 5.71 %,
1. Total Domestic Equity 10.76% versus the benchmark at 7.28%
2. Total Int'I Equity 5.58% versus the benchmark at 0.37%
B. Total Fixed Income was -0.10% versus the benchmark at 1.12%
1. Total Domestic Fixed Income -0.15% versus benchmark at 1.69%
2. Total Global Fixed Income -1.45% versus benchmark at -2.41 %
6. Attorney Bonni Jensen discussed Senate Bitl 172, House Bill 1309, the reporting
requirements and website disclosure requirement. The memorandums addressing
these legislative bills are available upon request.
TEQUESTA PUBLIC SAFETY OFFICERS' PENSION TRUST FUND
Summary of Actions for Quarter ending 06/30/15
7. The Plan Budget Report 2015-2016 was discussed and approved. This is a new
requirement created by Senate Bill 172 applicable to all Florida Police and Fire
Plans.
8. The Trustees received and filed the Actuarial Impact Statement for the proposed
amendment was discussed. This fmpact Statement related to Ordinance 15-15.
9. The next meeting is scheduled for November 2, 2015.
PLEASE ADDRESS ANY QUESTIONS IN WRITING AND THE BOARD WILL
RESPOND IN KIND.
C:\Users\bonni\Soonr WorkplacelPENSION\Tequesta PS 1011\SUMMARY OF ACTIONS\20151Teq FF Summary of Actions as of
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